VMG Foods Limited (SC359701): administration
- Status
- Administration ended
- Administration began
- 2014-01-21
- Administrators
- James Bernard Stephen, Anne Buchanan
- Administrators' firm
- BDO
- Formerly
- BKF Fifty-Two Limited
- Incorporated
- 2009-05-15
- Location
- Glasgow
- Industry
- 10890 Manufacture of other food products n.e.c.
Why it went into administration
- Funding withdrawn / unable to refinance
From the administrators' statement
The Company was incorporated on 15 September 2009. The Company’s head office is located at 90-94 Glentanar Rd, Balmore Industrial Estate, Glasgow,G22 7XA. The Company’s principal activity was a supplier of Pizza & Pizza Bases.
The Company was founded in 2010, when the Directors purchased the business and assets as a going concern from VMG Bakeries Limited. The Company produced a variety of pizza and pizza bases for their ‘blue chip’ customers, namely Asda, Morrisons and Brakes. Their niche product, designed by the Directors, was that of Pizza Fingers.
The Company has relied on increased support from the Royal Bank of Scotland ptc (“the Bank”) over the years, however during the past 6 months the Company encountered trading difficulties which uncovered a potential funding gap of circa £200k. ,
Administrators' statement of proposals (2014-03-17) · Companies House register